Monopolistic Competition

3 years ago
Microeconomics

Monopolistic competition – Market in which firms can enter freely, each producing its own brand or version of a differentiated product.

Oligopoly – Market in which only a few firms compete with one another, and entry by new firms is impeded.

Cartel – Market in which some or all firms explicitly collude, coordinating prices and output levels to maximize joint profits.

0
Bijay Satyal
Dec 1, 2021
More related questions

Questions Bank

View all Questions